Prince Albert has made clear that the ambitious housing plan launched by his government over the next five years will ease the tensions in the rent-controlled sector.
“It is clear that a Principality without construction would mean a country at a standstill, without a forward looking vision, no longer able to renew itself, to develop and to innovate,” he told Forbes Monaco.
“I would not take that risk, that of a slow regression. In our approach, let us be innovative, let us imagine buildings that are more energy-efficient, more eco- responsible, that is the direction I want my country to go.”
One of the new housing projects is the 30-story Testimonio II. Construction began in the second quarter of 2017 and is expected to be delivered in summer of 2024. Today, minister of environment Marie-Pierre Gramaglia, minister of finance Jean Castellini and president of the National Council Stéphane Valeri, as well as several other ministers, visited the T2 residential tower which will house 181 state-owned apartments.
As part of the National Housing Plan for Monegasques, Testimonio II’s T2 bis tower will feature an additional 167 state-owned apartments, a day care for 50 managed by the mairie and the future premises of the International School of Monaco to accommodate 700 students.
Additionally, there will be public parking and a mechanized pedestrian link between boulevard d'Italie, boulevard du Larvotto and avenue Princesse Grace.
The waterfront Bay House, part of the Testimonio II vision, will feature 54 private luxury apartments and five villas, each with terraced gardens and private swimming pools.
The site is being developed by the Marzocco Group (Odeon Tower) selected by the State after a competition launched in 2013, who is working with Vinci Immobilier and Vinci Construction, which provides construction alongside SATRI but also the architect Alexandre Giraldi and the Arquitectonica firm.
The housing department has put out a call to Monegasque nationals interested in renting state-owned apartments. Applications with supporting documents can be submitted from May 3 to Friday May 28 at 5 pm. Download the form from government website.